S P Apparels IPO fully subscribed

Garment maker S P Apparels' initial public offering got fully subscribed by afternoon today, the last day of the issue.
The IPO received bids for 70,05,020 shares, an over- subscription of 1.07 times, the NSE data till 1230 hrs showed.
The public offer can fetch a total of up to Rs 456 crore through a combination of fresh issuance of equity shares and via offer-for sale route. This includes raising up to Rs 215 crore through fresh issue of shares.
Price band has been fixed at Rs 258-268 per share.
The company has already raised nearly Rs 72 crore from anchor investors by selling 26.76 lakh shares at Rs 268 per share.

The book running lead managers are Motilal Oswal Investment Advisors and Centrum Capital.
S P Apparels is a manufacturer and exporter of knitted garments for infants and children.
In 2015-16, the company exported around 35.98 million pieces of knitted garments for infants and children directly to international customers, including Tesco and Primark.